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Banks Seen as Needing More Regulation for Second Year

Business Wire, Dec 01, 2009

Oil Companies, Pharmaceutical Companies and Health Insurers Top List
of Industries Needing More Regulation

NEW YORK — As the countrys economic troubles continue, one of the spotlights has
been on the troubled banking sector. The question of what did they know
and when did they know it has been asked by the American public and the reputation
of the industry has slid because of this. Every year, Americans are
asked to say what industries they believe should be more regulated by
the government and which industries they find most honest and truthful.
Needless to say, banks are now seen as needing more regulation and are
not seen as trustworthy and honest as they once were.

Between 2003 and 2007, only one in five Americans (17%-21%) believed
banks should be more regulated. Last year 36% believed this and this
year that number increases to 40%. The larger difference from last year
is in how honest and trustworthy banks are. In 2004, two in five
Americans (40%) said they would normally believe a statement by a
company in the banking industry. Last year just 21% said this and this
year that number drops to just 12%.

These are some of the results of The
Harris Poll of 2,303 adults surveyed online
between November 2 and 11, 2009 by Harris
Interactive.

Industries that should be more regulated

The industries that have the largest numbers of people who believe they
should be more regulated are oil companies (47%, down from 53% last
year), pharmaceutical and drug companies (47%, down from 49% last year),
health insurance companies (45%, down from 49% last year), managed care
companies (36%, down from 39%) and tobacco companies (33%, up from 31%).

Looking at the other end of this list, there are four companies that
only one in ten Americans or less believe should be more regulated:
computer hardware companies (5%, unchanged from last year), supermarkets
(5%, down from 6% last year), computer software companies (6%, unchanged
from last year) and online retailers (10%, up from 9% last year).

One industry has an even larger gain than banks in the number of U.S.
adults who believe it should be more regulated by the government car
manufacturers
colorado auto insurance quotes